The City of Edmonton celebrated Maclean’s putting the city on its list of Best Affordable Places to Live in Canada with nine other municipalities. Edmonton Mayor Amarjeet Sohi said it was “exciting to see Edmonton being recognized as one of Canada's best affordable cities.”“In 2022 alone, we welcomed more than 45,000 new residents, who chose to move here for reasons including affordability, access to services, a thriving economy, and more,” said Sohi in a press release.“They stayed for the community, the warm and welcoming people, and a quality of life enriched by festivals, arts and culture, and the beautiful scenery that surrounds us.” The Frontier Centre for Public Policy and the Chapman University Centre for Demographics and Policy said Edmonton is the most affordable major city in Canada and fifth most affordable city in the world. However, the City of Edmonton said that is not the whole story on why people are choosing to make it home. Edmonton Global reported the area is the fastest growing in Canada, with more than double the national average in export growth and generating more than $110 billion in GDP. While the strong economy is beneficial, the City of Edmonton pointed out it is home to a young, educated talent pool with seven post-secondary institutions with more than 130,000 students. It said Edmonton is the envy of urban planners. This is because it was the first major Canadian municipality to remove minimum parking requirements and its zoning bylaw is the most ambitious in Canada. The Edmonton River Valley is North America’s largest urban forest, and the North Saskatchewan River that runs through it has been designated a Canadian Heritage River.Dubbed Canada’s Festival City, Edmonton is packed with cultural events and celebrations. For example, Edmonton was the first North American city to launch a fringe festival, which will be opening this weekend for its 43rd installment. The City of Edmonton went on to say embracing newcomers and new ideas while helping neighbours in times of need has always been the Edmonton way. City of Edmonton Interim City Manager Eddie Robar said Edmontonians are known for their innovative spirit and love for building community. “We have a saying: ‘five minutes here and you’re one of us,’ and we really feel that way,” said Robar. “This welcoming environment, combined with our strategic location and growing infrastructure, are why businesses and industries are increasingly drawn to Edmonton.”Maclean’s said the September 2024 issue profiles 10 municipalities where buyers “can find good-sized, high-value family homes without breaking the bank.” It highlighted Edmonton’s real estate prices that remain well below the national average, with a benchmark sale price of $392,700. It said it had booming neighbourhoods, including a resurgent downtown and ambitious city planning, citing recent zoning changes that mean almost every residential area can soon be used for denser blocks of duplexes, townhouses and apartments. While homes are affordable, it noted Edmonton’s local economy is outpacing national trends and upending expectations. The Realtors Association of Edmonton said on July 7 the city recorded 2,847 sales in June — down 11.4% from May and 10% higher than 2023. READ MORE: Edmonton housing market: slowing sales; steady pricesNew listings performed much the same, with 3,712 homes going on the market — a 14.2% drop from May and a 15.9% increase from 2023. The city-wide average price reached $438,973 — a 0.6% decrease from May and 6.6% above the average in 2023.
